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Finance Bill

We will assess that amendment when we see it. We will certainly give consideration to the question that the right hon. Gentleman asks. I now turn to clause 3. The Chancellor has changed the tax system for small companies in every one of his 11 Budgets, which have included six rate changes. The Bill not only raises tax rates for small businesses, but makes the tax system more complicated for them. More than 12 million people in this country work for small businesses, and it is they who will lose out—the thousands of small retailers on our local high streets just trying to make a living. Nick Goulding, the chief executive of the Forum of Private Business, described the measures as "a kick in the teeth for Britain’s small businesses." David Frost, director general of British Chambers of Commerce, said:"““This is a substantial rise and will hit those looking to grow their business.?" The verdict of John Wright of the Federation of Small Businesses is that "Small businesses were the main victims of this Budget." The Chancellor and the Chief Secretary to the Treasury claim that the new allowances mean that businesses that invest will not lose out.